The wedding is coming, and the financial crisis is about to break out.

"Soros, what's going on with Madoff?" Lin Feng asked.

"Hey, boss, you may not know much about New York. Now Madoff is very famous in New York's wealthy circles. The funds collected by his 'Ponzi scheme' have exceeded one trillion U.S. dollars. Tsk, tsk, tsk, tsk, tsk, tsk tsk, those

The people who lent him the money were all successful people after all, and they were all people who had been through the turmoil in the business world, but they could be deceived by such a simple scam. How stupid!" Soros said with a sarcastic face.

An annual income of more than 10%, and the interest is compounded, is something that is completely unimaginable in the West. Western banks have almost no deposit interest, and even the interest rate for buying government bonds is not high, only about 34%. Even though it is known as

Buffett, the stock god, would never dare to guarantee to anyone that the annual rate of return would be above 10%. What is really great about Buffett is that his assets can guarantee an annual rate of return of around 5%.

5% is indeed not high, but if it continues to increase, it would be very scary! You can’t tell it in one or two years, but if the total assets continue to increase steadily every year for ten or twenty years, it will be very scary. This is Buffett

The way to success. Of course, Soros has never envied Buffett. He and Buffett are basically two different people. Buffett advocates prudent investment, while Soros advocates speculative investment. What he pursues is getting rich overnight.

That kind of excitement.

In fact, for ￡∝ long ￡∝ wind ￡∝ literature ￡∝ learning, □.▽.n≤et, when his wealth reaches the level of Soros, he has no shortage of money for a long time. More money and less money are not at all important to his life.

It doesn't matter. For a person with a billion-dollar asset, it really doesn't make any difference whether he has more money or less. And the fact that he is so obsessed with investing has nothing to do with personal wealth and is purely to satisfy his own success.

A need.

"How can he still play like this?" Lin Feng was surprised.

In Lin Feng's memory, Madoff defrauded tens of billions of dollars at most into his "Ponzi scheme". In the end, because of his own intrusion, he actually defrauded tens of thousands of dollars this time. This is crazy.

.

"Tear down the east wall to make up for the west wall!" Soros sighed. Soros despised those people who foolishly lent money to Madoff, but he admired and admired Madoff who set up a scam.

Sorry, I feel the same way.

Soros admires Madoff because he was able to set up this scam and make so many bosses willing to be deceived. This is his ability. You know, a 'Ponzi scheme' does not deceive everyone. Ordinary people want to

You can't even get in. You can't cheat him even if you want to. He only cheats those super rich people. Ordinary people, including the middle class, he doesn't take it seriously at all. Except for cheating rich people

In addition to making money easier, it is also because it is too shameless to deceive the poor. As the saying goes, there is a way to steal. Madoff is a liar, but he is not the kind of liar who has no bottom line or lower limit.

It's very simple. If you deceive those rich people, their money will be gone, and it will not have much impact on their normal lives. They can no longer buy various luxury brands and enjoy a luxurious life. However, the comfortable life of the middle class is no problem.

And if you deceive the poor, the money is their hard-earned money, which is their life-support money. If you deceive them, it means forcing them to die. For this kind of liar who deceives the poor, Soros is

Extremely disdainful.

As for Soros's original financial crisis, which caused the bankruptcy of poor people in various Asian countries, this was not Soros's intention. It was because there was a problem with the financial markets of these countries. Even if he did not take action, these poor people would still be wiped out by other financial giants.

Of course, he did not deny that he was the executioner.

As for what he laments for Soros, that is that Madoff has been doomed to a miserable ending. And it will be miserable! This time, it will be really miserable! And he empathizes with it because he understands why Madoff set up such a "

It's a Ponzi scheme for no other reason than money.

Does Madoff have no money? As the former chairman of Nasdaq, his own wealth is also extremely amazing and he is also a billionaire. He is rich and his life is not worried about money at all. There is nothing in this world that he cannot enjoy.

But after he stepped down as the chairman of Nasdaq, he lost his previous glamorous life. This made him extremely unable to adapt. Many people cannot accept a mediocre life after coming down from high positions, and their mentality cannot be adjusted. This is the case with Madoff

.

Soros is not like this. He follows Lin Feng because he is unwilling to be lonely. Does he lack money in life? No, but what he lacks is the excitement of being a dominant player in the financial world. And Madoff, I want to

What you want to get is the feeling that everyone is looking around and the stars are shining over the moon.

"Well, what happened to the various bonds in our hands?" Lin Feng asked.

To make money this time, Lin Feng naturally needs to acquire enough bonds of various kinds.

How did the subprime mortgage crisis come about? Naturally, commercial banks and investment banks in the United States transferred various loans from customers at a slightly lower price. What do you mean, that is, you borrowed 100 yuan from me

, promised to repay me 110 yuan in one year. So now, I will make it into a bond or a contract at the price of 106 yuan, and transfer it to a third person. For me, although I have earned 4 yuan less

, but my funds were withdrawn in advance, and I can lend money to more people.

As for the third person, he bought a contract of 110 yuan at a price of 106 years. He can easily earn 4 yuan a year. But he also feels that this time is too long, so what should he do?

Resell it at a price of 107 yuan! In this way, he can easily earn 1 yuan by changing hands without paying any money. The profit is not high, only 1%, but it is very simple.

If you earn 1%, the larger the amount of capital, the higher the profit will be.

Then the fourth person followed the same pattern and kept reselling it. Until the profit was not enough to support the continued sale, he could only hold it in his hands and wait for the time to expire to earn the profit he deserved.

This is strange, why are they all willing to buy it? It’s very simple, it’s a question of market resources. There are many people who have money but no investment direction. They can make money easily and there seems to be almost no risk. Why?

Don’t do it? Why don’t you make money? There is no reason not to make money! Is there anyone in this world who dislikes the lack of money?

There is nothing wrong with this way of financial operation. It is also a way for companies to transfer risks. But there is a problem, the most basic problem, and that is the original 'you' ability to repay.

If you can repay it by the time limit, then everything will be fine. The game will end successfully, and then you can start the second round of the game. But what if you cannot repay it? Then the financial game will collapse and problems will arise.

Once you can't repay it, the company that ultimately takes over won't be able to receive the money, and they will lose their money. It's no problem if you lose a small amount, but if you lose more, they won't be able to bear it, and they will go bankrupt.

.When they go bankrupt, there are companies behind them that will also go bankrupt. This becomes a domino effect.

Because from the very beginning, all the money was lent out of thin air. Once there is a problem in one link, all links will collapse. This is the simplest source of the subprime mortgage crisis.

Of course, the original outbreak rate of this kind of subprime mortgage crisis was very low. After all, those who formulated the financial game had considered the risk of financial turmoil. But when they began to pursue profits regardless of everything, the game changed.

The subprime mortgage crisis was caused by real estate. People who could not afford to buy a house temporarily borrowed money from banks in order to buy a house. There was a question of qualification review. Originally, they were very strict, and they would

There are many tests. Therefore, the initial estimate is that out of 10,000 people, there will be about two or three people who will be unable to repay.

But among my ten thousand people, the money I earned far exceeded the money I lost. So I can naturally bear the risk. But in the pursuit of profit, those real estate agents directly ignored the qualification review.

As long as you are willing to buy a house, then we will help you borrow money from the bank to buy a house. After all, for real estate agents, their duty is to sell houses, and the more they sell, the better. As for whether you can repay the mortgage as promised, it is not their concern

thing.

When it comes to the bank, in terms of bank credit review, in order to pursue performance, and with the collusion of real estate agents, loans are naturally easily approved. Whether you have the qualifications and the ability to repay the loan, you can easily borrow the loan.

, and you can enjoy a house that far exceeds your previous imagination. This crisis is laid.

Of course, if this is all, it will not cause a too serious subprime mortgage crisis. The real crisis lies in Wall Street. The financial market in the United States is extremely active, with stocks, futures, heavy metal trading, etc., all kinds of transactions are dazzling, and you have dozens of

There are many ways to make money. As long as you have money, you have many ways to make money. But what if you have no money? It is very simple, mortgage the property. Even if your property is borrowed and you are still repaying the loan, you can still borrow money in the United States, and

It’s very easy. And isn’t this real estate always booming? House prices are rising. The credit department will re-evaluate it and raise the price slightly. You can borrow more money and make money through the financial market to repay it.

Mortgage. It can even be said that you can earn a house with nothing, without spending a penny.

You say, this is so tempting! Is there anyone willing to take a gamble?

When this money enters the financial market, it naturally stimulates the financial market to flourish. This naturally allows more people to join the game. But in the final analysis, the financial market itself does not generate money. Some people make money and some people lose money.

And currently, who is losing money? Madoff! He is currently losing the most. Once he collapses, it will have a chain reaction! Because his money is borrowed! And it amounts to trillions of dollars! (To be continued...
Chapter completed!